Pre-Fed tensions are most obvious in the bullion market. The looming rate decision will drive the next moves for the precious metal.
Jerome Powell takes center-stage for commodities in the coming days, with the Federal Reserve chief set to unleash another large rate hike that could pile more pressure on energy, metals and crops.
There’s a lot to watch elsewhere too. Europe’s leaders are hatching plans to fight the energy crisis, with Germany mulling nationalizations. The US will offer the latest insight on meat demand, and there’s a clutch of key conferences: on copper in Barcelona, gold in Denver and climate in New York and Pittsburgh. With geopolitical tensions running high, the UN’s General Assembly might also be a focus.Pre-Fed tensions are most obvious in the bullion market.
The Czech Republic, which holds the EU’s rotating presidency, has called an urgent meeting of energy ministers for Sept. 30, with the goal of clinching a bloc-wide crisis plan before the winter heating season starts. That means the final shape of proposals could take shape in the coming week: on market interventions, demand management or help to consumers.
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